Exercise 2.5 Objectives 2-1, 2-2, 2-3 Determining the effects of transactions o n the accounting equation. he Copy Center had the transactions listed below during the month of June. Show how each trans- action would be recorded in the accounting equation. Compute the totals at the end of the month. The headings to be used in the equation follow. Assets Liabilities + Owner's Equity Accounts John Amos, Accounts +Receivablequipment Payable CapitalRevenue Expenses TRANSACTIONS 1. John Amos started the business with a cash investment of $60,000. 2. Purchased equipment for $22,000 on credit. 3. Performed services for $3,100 in cash 4. Purchased additional equipment for $4,600 in cash. 5. Performed services for $5.050 on credit. 6. Paid salaries of $4.450 to employees. 7. Received $3,200 cash from charge account customers. 8. Paid 13,000 to a creditor on account